Obama, Michigan in talks to free up $100M to aid Detroit pension deal

Posted by $ Your_Name_Goes_Here 9 years, 11 months ago to Government
17 comments | Share | Flag

I'm sorry, but I don't recall the Constitution provide these powers to our Dear Leader, The One, Barack Hussein Obama (mmm, mmm, mmm)...
SOURCE URL: http://www.freep.com/article/20140415/NEWS/304150147/Obama-Michigan-talks-free-up-100M-aid-Detroit-pension-deal


Add Comment

FORMATTING HELP

All Comments Hide marked as read Mark all as read

  • Posted by ObjectiveAnalyst 9 years, 11 months ago
    During the years that precipitated the bankruptcy of Detroit the workers were required to be residents and therefore had opportunity to vote for the idiots that created the bankruptcy. The workers themselves let their unions make demands that were clearly unsustainable... I don't think we should feel sorry for them or bail them out. The governor is on this bandwagon too, but if the POTUS does this it will set a precedent and start an avalanche.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by SRS66East 9 years, 11 months ago
      I agree, there is no way we can bailout the States and Municipalities when the Federal Government is in no better shape. We cannot bailout one city and not another, that isn't a fair application of resources. If we bailout everyone we will break ourselves in the process, Lincoln's observation stands as true today as it was when he said it "Too many piglets, not enough tits".
      Reply | Mark as read | Parent | Best of... | Permalink  
      • Posted by johnpe1 9 years, 11 months ago
        this is why our 2014 dollars are worth the equivalent of 1914 nickels (at least not wooden ones!). the quantitative easing tax is invisible to almost everyone. those of us on nearly fixed incomes are more likely to see this and vote against it!
        Reply | Mark as read | Parent | Best of... | Permalink  
  • Posted by $ Abaco 9 years, 11 months ago
    If this method gets legs and becomes the new paradigm for dealing with such problems it has two possible outcomes, in my opinion. 1 - total economic collapse. And..2 - massive inflation (followed by related economic collapse).
    Reply | Mark as read | Best of... | Permalink  
  • Posted by Herb7734 9 years, 11 months ago
    As a former Detroiter, (thank the gods for "former") I can predict that $100 million, $500 million or ten times that amount won't clean up 10 square blocks of Detroit, but several people will be a lot wealthier in a few years.
    Reply | Mark as read | Best of... | Permalink  
  • Posted by Danno 9 years, 11 months ago
    With the FED printing a reduced to $55B per month all those sucking more and more city aid programs are pocket change. Just print it up and then collapse like Wiemar Germany!!! More coffee houses!!!
    Reply | Mark as read | Best of... | Permalink  
  • Posted by wiggys 9 years, 11 months ago
    what's the big deal. all ob will do is free up the non-existent money. in my view the fed gov is a total disaster that will never get fixed anymore that the aca is going to be fixed. they in dc are a very bad joke!
    Reply | Mark as read | Best of... | Permalink  
  • Posted by cjmcd 9 years, 11 months ago
    As much as I feel sorry for the pensioners of Detroit, it was their own greed that put them into this position. Is the fed gov't going to bail out my retirement fund? I think not. The fed gov't is trying to find a way to strip me of my retirement fund.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by johnpe1 9 years, 11 months ago
      and while "greed", in this forum, is good, this greed was shortsighted and unwise -- trying to steal from the government till without increasing productivity! that's my opinion; feel free to make it yours!
      Reply | Mark as read | Parent | Best of... | Permalink  
  • Posted by barwick11 9 years, 11 months ago
    "hey, we haven't spent this money... what program LOOKS like something we're supposed to spend this money on, and how can we shift money from that to this to give to our political allies?"

    I live near Detroit. I've got friends in the DFD and DPD. They're some of the most humble guys (and gals) I know. The idiots who ran their city for so long completely dicked them over. As friends of theirs, it sucks, but also they should be wise enough to look forward and see that "the city is making promises they can't keep"
    Reply | Mark as read | Best of... | Permalink  

FORMATTING HELP

  • Comment hidden. Undo